Cordiant Digital Infrastructure Limited (CORD) has received regulatory approval from the Department of the Environment, Climate and Communications in Ireland for its acquisition of Speed Fibre DAC. The approval pertains to the change of control of Speed Fibre subsidiary, Enet, as required under the metropolitan area network concession agreements. The Transaction is expected to close later this year. Speed Fibre is Ireland's leading open access fibre infrastructure provider and will be CORD's fourth digital infrastructure investment. The company is well-positioned to invest in network expansion and meet the growing data demand in Ireland.
CORD primarily invests in data centres, fibre-optic networks, and telecommunication and broadcast towers in Europe and North America. It has successfully raised £795 million in equity and €200 million through a Eurobond. The proceeds have been deployed into four acquisitions, including Speed Fibre Group, which offer stable income and growth opportunities.
Speed Fibre operates through its subsidiaries Enet and Magnet Plus. Enet manages Ireland's 88 metropolitan area networks (MANs) and has a managed services contract for Irish Rail's long-distance fibre backhaul network. It also owns key infrastructure such as the T5 ring, which connects major data centres. Magnet Plus operates the largest independent connectivity network in Ireland and provides services to commercial and residential markets globally.
Overall, the acquisition of Speed Fibre will enhance CORD's digital infrastructure portfolio and enable it to capitalize on the growing data demand in Ireland.